The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A prominent realtor yesterday urged the Government to ensure the Bahamian economy remains open between now and Christmas to avoid "crippling" the retail industry.

David Morley, whose firm is one of The Bahamas' largest commercial property managers, told Tribune Business it was vital that any further restrictions on business activity be avoided as merchants seek to "salvage" what they can of 2020.

The Competent Authority, or Prime Minister's Office, yesterday gave no indication of any COVID-19 related tightening as it pushed curfew hours back to a 10pm start, thus enabling businesses to remain open until 9pm if they choose.

However, with Dr Hubert Minnis' warning that the cycle of "loosening and tightening" will likely be repeated again during this pandemic fresh in many people's minds, Mr Morley said: "I honestly hope and pray that the Competent Authority realises that the economy cannot shut down between now and Christmas. We've got to let those retailers try and make some money.

"It's absolutely critical for them. Historically, Christmas time represented anywhere between 50-60 percent of their annual business for some. If we're going to handicap or cripple them at this time of year we will end up with really bad repercussions."

Those consequences, he added, would involve retail closures and staff lay-offs, with the cost borne by the Government as well as those impacted through lower tax revenues and increased social assistance spending.

Rather than lockdowns and curfews, Mr Morley urged greater enforcement to control COVID-19's spread with non-compliant businesses hit wit fines and closures if they fail to enforce social distancing and mask wearing, or have too many people in their establishment.

"I just wish there was more enforcement of those protocols. Let's encourage businesses to stay open but, at the same time, enforce any rules being broken so we all get through this together," he added.

Many retailers, Mr Morley suggested, were likely to evaluate whether they remain in business in the New Year once they get through the holiday season, as January/February are typically among the slowest months as consumers recover from their Christmas spending.

"I think the retailers are hoping to have a decent Christmas to salvage something from 2020," he told Tribune Business. "My suspicion would be that with retail people they will re-evaluate early in 2021 with regard to the way forward.

"It's been rough on retail, no if's, and's or but's. They have inventory they have put money out on, hoping they can sell it and make something from it, but the challenge is that January and February are slow retail months."